Ian Telfer to succeed Greg Wilkins as World Gold Council chairman

World Gold Council (WGC) has appointed Ian Telfer as the chairman of the World to succeed Greg Wilkins Gold Council, vice chairman of Barrick Gold Corporation, steps down from the Board of WGC.

Telfer is chairman of the Canadian gold producer Goldcorp Inc.

Wilkins was elected chairman of World Gold Council in March 2008 and is credited with the expansion and ongoing success of the gold Exchange Traded Fund programme.

Telfer who became chairman of Goldcorp Inc in 2006 having previously been President and CEO of Goldcorp and its predecessor company Wheaton River Minerals. He is a member of the Canadian Institute of Chartered Accountants, holds a BA from the University of Toronto and an MBA from the University of Ottawa.

Commenting on his appointment, Mr Telfer said: ''I am taking on a great role at a time when gold has never been more relevant and important to so many people. IT is a great privilege to be able to work with WGC to deliver a new and lasting prominence for gold.

''As we move into a new financial era, we believe that gold will play a central role in the investment portfolios of those seeking to preserve wealth and mitigate risk and that central banks will continue to diversify their foreign exchange exposure in favour of gold. I look forward to building on the great work that my predecessor Greg Wilkins has led.''